Silver Prices Range Bound as US Dollar Recovers

Silver Prices Range Bound as US Dollar Recovers

Silver

  • Buz Investors Silver Prices Range Bound The precious metal is trading at $16.81 per ounce at 10:40 GMT this morning, 0.12% lower from the New York close.
  • During the session, silver traded at a high of $16.89 per ounce and a low of $16.79 per ounce. In the New York session yesterday, silver rose 1.14% and closed at $16.83 per ounce.
  • Immediate downside, the first support level is seen at $16.62 per ounce, while on the upside, the first resistance level is at $16.97 per ounce.

Silver Prices Range Bound

Buz Investors Silver Prices Range Bound The precious metal is trading at $16.81 per ounce at 10:40 GMT this morning, 0.12% lower from the New York close. During the session, silver traded at a high of $16.89 per ounce and a low of $16.79 per ounce. In the New York

Silver Prices Range Bound  Silver prices traded slightly lower on Wednesday, as a rebounding US dollar softened demand for precious metals ahead of Donald Trump’s first news conference since being elected US President.

The March contract for silver slipped 3 cents, or 0.2%, to $16.82 a troy ounce at 6:58 am ET. Prices traded within a narrow range of $16.78 – $16.89 through the overnight session.

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Silver Prices Range Bound

 

Silver is up 1.8% for the week and has recovered more than 5% since the start of the year. The grey metal has retraced most of the losses incurred after the Federal Reserve’s decision to raise interest rates on December 14.

February gold futures climbed $4.30, or 0.4%, to $1,189.90 a troy ounce, a new six-week high. The yellow metal was on pace for its third consecutive gain and sixth since the new year.

Later this morning, US President-elect Donald Trump will hold his first news conference since the November 8 election, where he is expected to discuss his transition to the White House. Market participants will be closely monitoring the event for clues about fiscal policies. The news conference is scheduled to begin at 11:00 am ET.

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Commodities ( Gold ) ( Silver ) ( Lithium )




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Jadtecnic

Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST since 2011. Editors and Founder of InvestorsBuz.com, has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars, Electric Cars, Medical Marijuana, 3d printing and Cloud computing, Refers to Readers as BUZ INVESTORS.

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